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- SDF, the investment arm of Tawazun Economic Council and EOS Defence Systems Pty Limited (EOS) have signed an agreement to establish a Joint Venture
- The company will design and develop a new multi-platform, lightweight, chain driven machine gun, using cutting edge design and manufacturing technology such as advanced 3D printing of key components
- The JV targets the development of a wide range product family based on the design and innovative technology concept of the new 14.5 x 114 mm weapon system, in which the partners would invest more than AED 200 million in the next few years
- The company intends to work closely with existing UAE entities with the relevant manufacturing capabilities to produce the system locally
Abu Dhabi: SDF, the investment arm of Tawazun Economic Council and EOS Defence Systems Pty Limited (EOS) have signed an agreement to establish a JV with equal partnership, which would design and develop a new multi-platform Light-Weight 14.5 x 114 mm Chain Driven Machine Gun in the UAE, with the involvement of international and local engineering and designing expertise.
The JV will utilize the latest technologies in design and manufacturing to provide to the market a superior Weapon System compared to the existing conventional 14.5 x 114 mm products. The new weapon system will provide lighter weight, improved accuracy, lower stoppage, reduced recoil and enhanced logistic support.
His Excellency Tareq Abdulraheem Al Hosani, Tawazun CEO and Chairman of SDF, said “This agreement stems from SDF’s commitment to support the development of the UAE’s strategic industries and contribute to the UAE economy through our developmental investment partnership module. It is our pleasure to partner with EOS, one of Australia’s leading defense and technology companies, and we look forward to an ongoing relationship that will be of benefit to both parties”.
SDF CEO, Abdulla Naser Al Jaabari commented, “This agreement paves the way for the JV to set up production in the UAE that targets to supply the global market. Our strategy is to collaborate with UAE national companies with existing capabilities to support the development and manufacturing of the new weapon system and localize its supply chain”.
Al Jaabari added “We are positive that the need for such an innovative design and solution will result in an economically viable business, we have displayed the product in IDEX 2021 and we have been receiving high interest from potential customers in the region”.
EOS CEO Ben Greene commented: “EOS is proud to have SDF as a JV partner. EOS’ global role as a systems integrator and technology leader in remotely operated combat systems will strongly support the development in UAE of enhanced defense technology products optimized for future roles in this global market. EOS has a long history of investment in the UAE, and the formation of this JV represents the next step in developing local industry and infrastructure to support next-generation defense and aerospace capabilities.”
Strategic Development Fund, the investment arm of Tawazun Economic Council, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector.
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About Tawazun Economic Council
Founded in 1992, Tawazun Economic Council (Tawazun) has enabled the creation of more than 90 companies and investment vehicles within eleven sectors, and now serves as the catalyst for both economic growth and the development of the UAE defense and security industry.
Tawazun is the UAE defense and security acquisitions authority for the UAE Armed Forces and Abu Dhabi Police; driving economic value through the Tawazun Economic Program and the Tawazun Strategic Development Fund, facilitating ecosystem growth and human capability development through global and local partnerships, and empowering technology & innovation through the defense and security R&D ecosystem.
Tawazun - towards an agile future
For more information please visit: https://www.tawazun.ae
About EOS Defence Systems Pty Limited
EOS Defence Systems Pty Ltd (EOS) is a leading defense technology company that specializes in weapon systems integration, as well as ISR (Intelligence, Surveillance and Reconnaissance) for land warfare. Its key products are next-generation remote weapon systems, vehicle turrets and counter-UAS systems incorporating directed energy and kinetic drone-defeat technologies.
© Press Release 2021
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